Mortgages

Luther Burbank Savings, in Santa Rosa, Calif., has established three home loan programs aimed at helping low- and moderate-income borrowers afford to buy homes in nine California counties.

While Texas has been among the strongest housing markets in the country over the past few years, the recent decline in oil and gas prices is affecting its housing market at a time when an overall sluggish economy can't pick up the slack.

Wells Fargo Home Mortgage has shifted Perry Hilzendeger to head up its mortgage servicing operations from his previous position of running its home loan default business.

Freddie Mac Chief Executive Donald Layton insisted Tuesday that the government-sponsored enterprise showed "very strong fundamentals" in the third quarter, despite reporting a $501 million loss due to an accounting mismatch with its use of derivatives.

Freddie Mac posted a third quarter loss of $501 million, its first quarterly loss in four years, but the government-sponsored enterprise will not request a draw from the U.S. Treasury.

Though the deadline for compliance is more than two years away, lenders are already warning that they do not have enough time to comply with a new rule that requires institutions to report additional data to regulators on home loans.

Bank of America has agreed to pay $335 million to settle a lawsuit claiming it misled shareholders about risky mortgages and its dependence on the electronic mortgage registry known as MERS.

The government's aggressive (and unsuccessful) prosecution of tiny Abacus Federal Savings Bank stands as one of the oddest episodes of post-crisis era.

Banks have added so much capital in the past several years that they're better protected from declines in real estate values than they were before the financial crisis.

Deutsche Bank is exiting agency residential mortgage-backed securities trading as part of a larger strategic plan announced Thursday that cuts thousands of positions in numerous business lines worldwide.

The administration apparently intends to leave office without addressing Fannie Mae and Freddie Mac's capital bases and therefore the tight credit conditions.

The report from independent auditors will likely show that FHA remains below its 2% statutory minimum capital ratio, but HUD officials and outside observers still expect it to show major improvement over last year.

California’s Richmond Community Foundation will pursue a new social impact bond vehicle with a $3 million revenue bond private placement it hopes to close next month with the local Mechanics Bank.

Executives at small banks and credit unions told the Senate Banking Committee about horror stories of technical glitches, vendor delays and overworked appraisers, while expressing an interest in having more time to comply with new mortgage rules.

Nobody thought it would be pretty, but last quarter's results were even worse than expected, and low fee revenue is largely to blame. Trading and mortgage banking were particularly bad, and few of the big banks managed to offset the declines.

Sure, the U.S. government recently handed down strong new rules designed to protect consumers from unwanted robo-calls. But maybe some robo-calls aren't so bad. Like debt-collection calls in cases where the debt happens to be backed by Uncle Sam.

Department of Housing and Urban Development staff are working on a revision to the agency's condo rule and "we anticipate a rulemaking process," the HUD Secretary Julian Castro said this week.

Flagstar Bancorp in Troy, Mich., reported a third-quarter profit, as it originated more residential mortgages and recorded higher fee income.

Quicken Loans CEO Bill Emerson's term as chairman of the Mortgage Bankers Association underscores how the Internet-and-phone channel has grown from a quirky novelty to transformative force in the industry.

The financial condition of the Federal Housing Administration’s mortgage insurance fund has improved “significantly” over the past year, Department of Housing and Urban Development Secretary Julian Castro predicted late Monday.